Bank Negara eases forex rules

After the doldrums, the sector is expected to pick up momentum in the second half of next year with a recovery in, among others, oil prices as well as a clear direction on US policies especially on its interest rates

PETALING JAYA: Bank Negara has eased some of the restrictions in the foreign exchange (forex) market to allow for some trading of US dollar/ringgit transactions between local banks.

Effective yesterday, local banks are allowed to transact any foreign currencies up to US$1mil.